The importance of electronic communication has increased dramatically in recent years. Information exchanges performed via paper copies not long ago are now the domain of electronic communication.
The emergence of the Internet has contributed to the ease at which information may be accessed and utilized. As a result, the exchange of electronic information has become a powerful business tool for statistical consumer preference analysis.
Unfortunately, while the collection and analysis of such data can be of great public benefit, it can also be the subject of considerable abuse. To address this concern, State and Federal lawmakers have enacted information sharing regulations governing the exchange of personal information. For example, the recently passed Graham-Leach-Bliley Act provides that every financial institution has a continuing obligation to respect the privacy of its customers as well as protect the security and confidentiality of customers' non-public personal information.
As a result, entities and/or individuals wishing to make use of consumer information must address and comply with applicable data sharing regulations. To accomplish this, there remains a need for a system and method capable of identifying applicable information sharing regulations and facilitating the successful compliance with same.